"Then 20% of the land value ($8,000) would be assigned to the land, and land is *not* depreciated"
When entering the value of the land, should i enter it at the reduced 20% of home square footage?
The business use percent would be then entered based on rental day percentage, which would only affect the asset entry minus land value?
I have some prior depreciation from years ago when I rented the entire house, I assume I subtract that from the cost basis before the 20% calculation.?
thanks for your help
